Bill Chisholm’s road to securing control of the Boston Celtics just got a little bumpier. The investor, who agreed to a staggering $6.1 billion deal to buy the 18-time NBA champions, now finds himself facing scrutiny over potential conflicts with the league’s private equity ownership rules.
NBA Rules Could Complicate the Celtics’ Sale
The NBA has strict guidelines when it comes to private equity ownership. According to league policy, private equity firms can hold a stake of no more than 20% or, alternatively, must own less than the controlling owner’s share—who needs at least 15% of the franchise.
Sources suggest that Chisholm, founder of Symphony Technology Group, may have committed less personal capital than private equity firm Sixth Street Partners, a major player in the deal. If that’s true, it could throw a wrench into the NBA’s approval process.
Two Possible Paths Forward for Chisholm
Chisholm has a couple of options to straighten things out before the NBA Board of Governors votes on the sale in June. One route? He could bring in additional investors, shifting the ownership structure so that Sixth Street’s stake is reduced to meet league standards. Some of the Celtics’ existing minority stakeholders could increase their holdings, or even previous bidders who lost out to Chisholm could get involved.
Another possibility is a direct appeal to the league. Chisholm could seek a one-time waiver from the NBA, banking on the record-breaking price tag of the transaction to sway other owners in his favor. The deal doesn’t include a stake in the Celtics’ home arena, TD Garden, but at $6.1 billion, it still shattered NBA franchise valuation records. Would the league be willing to bend its own rules under these circumstances? That remains to be seen.
A Sale That Could Change the Future of NBA Ownership
Regardless of how this plays out, the ripple effects could be significant. If Chisholm finds a workaround—whether by restructuring ownership or securing a waiver—it could set a new precedent for private equity involvement in team purchases. On the other hand, if the NBA enforces its regulations strictly, it could deter future deals involving deep-pocketed investment firms looking to claim major stakes in franchises.
Celtics Focused on Playoffs Amid Ownership Drama
While ownership discussions continue behind closed doors, the Celtics themselves remain locked in on their quest for another championship. Sitting at 54-19, Boston appears set to secure the No. 2 seed in the Eastern Conference ahead of the playoffs, which begin on April 19.
Led by All-Star duo Jayson Tatum and Jaylen Brown, plus defensive standouts Derrick White and Jrue Holiday, the Celtics have a legitimate shot at defending their 2024 title. With Kristaps Porzingis and veteran Al Horford returning to full strength, Boston is shaping up to be a serious contender once again.
The boardroom battles may be grabbing headlines, but on the court, the Celtics are laser-focused on making history—again.
